Bio-Techne Corp (NASDAQ:TECH) Stock Has Average Target Price of $68.92 According to Analysts

Bio-Techne Corp (NASDAQ:TECH) has been assigned an average recommendation of “Hold” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. Fifteen analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $68.92.

TECH has been the subject of several research reports. Piper Sandler initiated coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price objective for the company. Royal Bank Of Canada downgraded Bio-Techne from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $62.00 to $73.00 in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Wells Fargo & Company cut shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $62.00 to $73.00 in a research report on Thursday, August 13th. Finally, William Blair cut Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th.

Institutional Trading of Bio-Techne

Institutional investors and hedge funds have recently bought and sold shares of the business. Avalon Trust Co purchased a new stake in Bio-Techne in the second quarter valued at $42,000. Cassaday & Co Wealth Management LLC purchased a new position in Bio-Techne during the first quarter valued at approximately $37,000. Allworth Financial LP purchased a new position in shares of Bio-Techne during the 2nd quarter valued at approximately $59,000. Integrated Wealth Concepts LLC acquired a new position in shares of Bio-Techne in the second quarter worth about $71,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Bio-Techne in the 2nd quarter worth about $117,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Down 0.1%

Shares of NASDAQ TECH opened at $72.45 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. The company has a market cap of $11.36 billion, a P/E ratio of 63.00, a PEG ratio of 8.78 and a beta of 1.30. Bio-Techne has a 1 year low of $43.19 and a 1 year high of $72.69. The firm has a 50-day simple moving average of $72.33 and a two-hundred day simple moving average of $63.03.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $321.19 million during the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. Research analysts anticipate that Bio-Techne will post 1.73 earnings per share for the current year.

Bio-Techne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Monday, August 24th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is presently 27.83%.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research, diagnostic and bioprocessing products for the biotechnology and pharmaceutical industries, academic institutions, clinical laboratories and other healthcare organizations. Its portfolio supports research in areas such as cancer, immunology, neuroscience, cell biology and precision medicine.

The company provides proteins, antibodies, immunoassays, reagents, gene and cell therapy materials, and analytical instruments.